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<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/former-binance-ceos-travel-request-denied-amid-legal-troubles/" data-wpel-link="internal">Former Binance CEO’s Travel Request Denied Amid Legal Troubles</a><br></p>
<p style="text-align: justify">An important development occurred in the ongoing case between the US and former <a href="https://en.coin-turk.com/binance-prepares-to-launch-usd%e2%93%a2-m-nfp-perpetual-contract/" data-wpel-link="internal">Binance</a> CEO Changpeng Zhao in Washington’s Western District. According to Bloomberg, Zhao’s request for international travel was denied by US District Judge Richard A. Jones.</p> 
<h2 style="text-align: justify" id="strong-zhao-s-second-travel-request-denied-strong"><strong>Zhao’s Second Travel Request Denied</strong></h2> 
<p style="text-align: justify">Zhao, who was found guilty of violating US laws in November of this year, had previously been released on bail and had requested permission from the court to travel to the United Arab Emirates to be with his family. However, the court had not approved Zhao’s request. Indeed, the cryptocurrency billionaire’s second travel request was also denied. Zhao’s travel plan and destination were recorded in the Seattle court but kept confidential.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-295945" src="https://coin-turk.com/wp-content/uploads/2023/12/Changpeng-Zhao-Binance.jpeg" alt="" width="1280" height="720"></p> 
<p style="text-align: justify">The denial of the travel permit followed a decision by a magistrate judge who had previously allowed Zhao to make a short trip to the United Arab Emirates. This permission was later revoked for Zhao’s planned sentencing hearing in February.</p> 
<p style="text-align: justify">Bloomberg’s report indicated that Department of Justice (DOJ) prosecutors were concerned about Zhao’s risk of flight. This concern was based on his considerable assets and his desire to travel to the United Arab Emirates, a country with no extradition treaty with the US. Zhao tried to alleviate these concerns by offering a $175 million bail, including $15 million in cash, but to no avail.</p> 
<h2 style="text-align: justify" id="strong-former-binance-ceo-could-face-prison-time-strong"><strong>Former Binance CEO Could Face Prison Time</strong></h2> 
<p style="text-align: justify">Zhao’s legal troubles with US institutions are escalating. Accusations, including violations of anti-<a href="https://newslinker.co/category/finance/" data-wpel-link="exclude">money</a> laundering laws, have cost Zhao his CEO position at Binance and chairmanship of Binance.US, with statements emerging about a potential prison sentence. CFTC Chairman Rostin Behnam recently stated in an interview that Zhao could face prison time as a consequence of his actions.</p> 
<p style="text-align: justify">This month, the <a href="https://en.coin-turk.com/polynetwork-faces-potential-repeat-of-massive-crypto-hack-new-risks-emerge/" data-wpel-link="internal">SEC</a> also accused Binance and Zhao of knowingly violating US laws in the ongoing case. These accusations follow a $4.3 billion settlement with the DOJ, indicating complex legal challenges for both Zhao and Binance.</p> 
<p style="text-align: justify">Zhao is considered to be facing up to 18 months in prison depending on the case’s conditions, and the sentencing hearing scheduled for February 2024 is of great importance in determining his punishment.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/former-binance-ceos-travel-request-denied-amid-legal-troubles/" data-wpel-link="internal">Former Binance CEO’s Travel Request Denied Amid Legal Troubles</a></h5>

Former Binance CEO’s Travel Request Denied Amid Legal Troubles

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